The aircraft cleaning chemicals market is set to grow at a 3.4% CAGR from 2019 to 2029, driven by bio-based solutions and increased air travel.
Sustained by notable increase in number of airlines, coupled with a mounting number of aircraft refurbishment and leasing activities, global sales of aircraft cleaning chemicals will witness a CAGR of 3.4% in the forecast period of 2019 – 2029. A sustainable shift towards bio-based cleaning chemicals is poised to be a prominent trend shaping up the future of global aircraft cleaning chemicals market, suggests a new Future Market Insights (FMI) study.
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Bio-based and water-based cleaning chemicals are gaining traction in the market, as these are used to remove hazardous and toxic substances such as trichloroethylene (TCE), perchloroethylene, and other corrosive chemicals from aircraft. Bio-based cleaning chemicals are widely used by both civilian and military aircraft, owing to their non-explosive, low-flammability formulation, which completely eliminates the risk of fire.
Attractiveness of Developing Aircraft Cleaning Chemicals Market on Rise
Developed regional markets such as North America and Western Europe collectively contribute nearly half of the global aircraft cleaning chemicals market revenues. However, this share is most likely to see a dip in the following years, against the increasing lucrativeness of developing regional markets.
Southeast Asia Pacific (SEAP) and China have been reflecting attractive sales opportunity on the back of hefty airport investments, and remarkable rise in air tourist footfall. The commercial aviation landscape of Middle East & Africa (MEA) will also turn lucrative.
Industry Shifting Towards Green Chemicals
The global sustainability drive has been triggering industries to adopt an eco-friendly approach to eventually slash down the carbon footprint. Manufacturers of aircraft cleaning chemicals are also accelerating their shift to greener cleaning chemicals that are bio-based, non-toxic, biodegradable, equally durable, yet cost-effective.
Water-based aircraft cleaning chemicals are thus gathering momentum, outpacing their solvent-based counterparts in the market, in terms of rate of demand growth. This would mark an impactful trend shaping up the future of aircraft cleaning chemicals market through the foreseeable future.
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Key Takeaways – Aircraft Cleaning Chemicals Study
The global aircraft cleaning chemicals market is highly fragmented due to the presence of good number of players in regional as well as international markets. Key manufacturers such as PPG Industries Inc., Illinois Tool Works Inc., Arrow Solutions, and Callington Haven Pty Ltd account for a prominent share in the global aircraft cleaning chemicals market. North America, followed by Western Europe is estimated to dominate the global aircraft cleaning chemicals market. However, developing regions such as China, India, ASEAN, and the Middle East are expected to create lucrative opportunities for market participants.
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The foreseeable increase in the number of aircraft in the next two decades is expected to provide substantial opportunities for players operating in the aircraft cleaning chemicals services market, i.e. cleaning chemical and cleaning equipment manufacturers. Key manufacturers should focus on developing cost-effective as well as efficient products in order to gain a high brand value.
The research report analyzes total sales of aircraft cleaning chemicals on the basis of volume (Tons) and value (US$ Mn). The report includes a competition analysis section that includes market structure analysis, tier structure analysis, competition development, and other crucial information about global and regional players in the market. Opportunities in the market are projected on the basis of factors such as aviation industry growth, travel and tourism industry outlook, air traffic growth, investments in upcoming airport projects, and expansion in production by worldwide manufacturers.
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The article discusses the growth and trends in the aircraft cleaning chemicals market, focusing on bio-based solutions.
Bio-based cleaning chemicals are eco-friendly, non-toxic solutions used in aircraft maintenance to replace hazardous substances.
The market is growing due to increased air travel, demand for eco-friendly solutions, and developments in emerging markets.
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